Right now, the chart is showing more bullish sign than bearish. Bitcoin touches the 5300 resistance a few times, suggesting that it might move to the upside.
A target to 5800 is more likely than going down below 5000. Still, you should have your stop-loss ready just in case BTC breaks below 5000 level.
Some evidence: Golden Cross Daily volume going down Ascending Triangle
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BTC finally broke out of that ascending triangle, and our target is still the same :)
Will it be the start of the bull run?
Trade closed: target reached
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Although BTC went down first, it shoot up straight away. We manage to get a nice profit of about 11%.